What do you think are the biggest disadvantages of Bitcoin? - page 87.

Indijanos

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Quote from: Hung_Daddy on December 08, 2016, 08:32:03 PM

Probably that you can't flip them right away for actual money

Takes too long :/

well I can exchange them for fiat in a few moments, there is an online local service that buys/sells bitcoin and they're pretty fast, it takes them 30min from transaction for them to deliver the money. That's pretty fast if you ask me.

Natalim

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BTC to the MOON in 2019

Quote from: zahra4577 on December 08, 2016, 02:19:49 PM

Quote from: g2com on November 30, 2016, 05:39:07 AM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

Well, that seems to be the problem anytime as base on experience I have a long time waiting with the confirmation of my transaction. But in overall I am still very positive that this is not a serious problem, the fact that there's a lot of business and leisure in online that is possible because of bitcoin I am willing to accept some weaknesses like delayed of transaction. It's nothing since it does not happen all the time.

Hung_Daddy

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Probably that you can't flip them right away for actual money

Takes too long :/

zahra4577

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Quote from: g2com on November 30, 2016, 05:39:07 AM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

zahra4577

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Activity: 518

Merit: 500

Quote from: g2com on November 30, 2016, 05:39:07 AM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

rajasumi3

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the main disadvantage of bitcoin is that the price of bitcoins is fluctuating very rapidly.and the the account of bitcoins can be hacked now and then until and unless the security of bitcoin wallet is too tight ,goverment cant say anything about it or neither totally support about it .

sportis

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Veni, Vidi, Vici

Quote from: Techie5879 on December 05, 2016, 08:09:58 AM

Hugely anonymous, it is hard to trace the any people involved in any transactions

No it's not. It is only pseudonymous. IMO paysafe cards anyone buys from kiosks are more anonymous

Quote

It has been used in past for illegal activities

cash has a long run to illegal activities but people remember only bitcoins.

Quote

No one controls it, i.e, dependency on peer-to-peer network

this a disadvantage? Maybe for banks and governments; I see it as advantage

KennyR

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DGbet.fun - Crypto Sportsbook

Most users quoted the use of bitcoin into gambling and other illegal activities to be the disadvantageous, but I won't go with it because the that's the primary reason for which bitcoin is created. In my view the small mistake in transaction leading the entire amount to reach someone's wallet and the sender not having a return back feature to be the only disadvantage.

Fatanut

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Quote from: severaldetails on December 08, 2016, 10:02:20 AM

The bigest disadvantage for me is still the public opinion that goes along with bitcoin.
The reports about bitcoin in the main media are mostly in a negative content, and so is the awareness of crypto in the mind of most people.
If that awareness could be pushed from negative to neutral, it would be a great achievement for the future of bitcoin and all other crypto currencies!

Somehow, I think that this is actually a positive attribute of bitcoins. It kind of serves as a filter. The people that believe everything about the media says and don't do any effort to do their own research would act as childish as when they get in the bitcoin world. I know that we all deserve to be here but their acts would cause stress to the people around him.

Anyways, that's just how it is. The report of the media is a fact ever since. They're not lying about anything. Bitcoin really is being used in illegal transactions and in the dark net.

Boss CJ

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The fact that due to private transactions, it can be use for illegal purpose. As well as it can lead you to addictions in gambling. In the other hand it is always depend on the user, if you don't know how to control.

severaldetails

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The bigest disadvantage for me is still the public opinion that goes along with bitcoin.
The reports about bitcoin in the main media are mostly in a negative content, and so is the awareness of crypto in the mind of most people.
If that awareness could be pushed from negative to neutral, it would be a great achievement for the future of bitcoin and all other crypto currencies!

noictib

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One of the world's leading Bitcoin-powered casinos

Quote from: g2com on November 30, 2016, 05:39:07 AM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

Since Bitcoin have no drawbacks but have some programs that are mutch annoying .
The main problem in Bitcoin is confirmation system . I think the first problem of not confirm of transaction should be solve and secondly the transaction reversed ( in recent days ) should be fixed such that , they should never arise.

iqlimasyadiqa

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many people who say that the time of delivery and also the length of confirmation being one of the biggest shortcomings owned by bitcoin. everyone has experience transact easily and quickly.

fiscorcle

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Big disadvantages is the wait times for sending them for their confirmations to complete.
Been happening way too many times lately. To my transactions atleast.
This has got to improve or someone has to create a faster way to have these completed.

Juggy777

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Quote from: g2com on November 30, 2016, 05:39:07 AM

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

Bitcoin really does not have any great disadvantage, except the fact people are trying to find or create one. What you can say is a disadvantage maybe like that it is not known to anyone, or its not used to often, it's transaction are slow at time. Otherwise not really any major disadvantage I can remember so far.

Fatanut

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Quote from: cardoyasilad on December 06, 2016, 02:27:51 PM

Disadvantages of bitcoin are wallets can be hacked and fluctuating. Bitcoins are not widely accepted specially when buying some foods in the market you need to cash out for you to buy those foods and its a bit hassle

Any account online can be hacked. Your paypal, perfectmoney, skrillex, and all other online payment service can be hacked. I think that it's even easier to hack those because blockchain wallet (or any other wallet site) supports email 2FA and/or phone 2FA which decreases the chance of the hacker to get inside your account a lot.

Quote from: cardoyasilad on December 06, 2016, 02:27:51 PM

Bitcoins are not widely accepted specially when buying some foods in the market you need to cash out for you to buy those foods and its a bit hassle

This is true even for your paypal, perfectmoney, and skrill funds.

lakisis

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i think bitcoin adoption is going to increase too much faster and bitcoin transaction is much more faster than other currency and bitcoin is getting more stronger and powerful and we know that bitcoin transaction fees is very much lower than other crypto currency.

darklus123

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No absolute disadvantage that bitcoin really does have right now. What is good for some users arent that good for others. The only thing right now is i think the adoptation. We let us grow the seed that the future life forms food to eat

cardoyasilad

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Disadvantages of bitcoin are wallets can be hacked and fluctuating. Bitcoins are not widely accepted specially when buying some foods in the market you need to cash out for you to buy those foods and its a bit hassle

Morgenst3rn

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Quote from: Doms on December 06, 2016, 07:07:20 AM

Our help as early adopters is really needed to help sow the seeds of pushing bitcoin toward mass adoption.

This x 1000!

Sometimes i think this forum, as useful as it is ofc, is a giant filter bubble.
There are a lot of shops & enterprises, which already use BTC, i'm 100 % aware of this, BUT we are still far, far away from any kind of notable movement, even a lot of students in the CS field as well as professionals never ever heard of BTC or only very little, so what do you think how big is the percentage of the "normie" population ?

Nonetheless there are ways like purse.io or other ventures, which pave already the way for a larger adaptation of the idea, but so far, imho, the BTC community largely consists of tech enthusiasts, some investment-minded people and also some criminals.

Topic: What do you think are the biggest disadvantages of Bitcoin? - page 87. (Read 76799 times)